At Cloudsquare, we’re committed to delivering the best loan management software to our customers. With the latest updates to Cloudsquare Lend, we’ve made key enhancements that improve flexibility, streamline processes, and ensure more reliable servicing. Whether you’re a current user or exploring options, these updates showcase why Cloudsquare Lend is the ultimate solution for your lending needs.
Ready to experience these enhancements firsthand?
Cloudsquare Lend just got even better, and we’d love to show you how it can transform your lending operations. Plus, if your team needs tailored functionality, we specialize in building custom enhancements to fit your unique requirements. Schedule a demo today or reach out to explore how our expert team can help take your processes to the next level with a fully customized solution.
New Features: Enhancing Flexibility and Control of the Best Loan Management Software
Support for Sole Proprietor Businesses
We’ve expanded the Federal Tax ID field to support Sole Proprietor SSNs, increasing flexibility for businesses that use Social Security Numbers as their primary tax identifier. This enhancement ensures our platform can accommodate a broader range of customers.
Smarter Bank Account Management
Users with the right permissions can now update bank account information tied to agreements, transactions, or remittances, providing greater control and reducing administrative bottlenecks.
Holiday Reserve for MCA Agreements
Our new “Holiday Reserve” feature ensures lenders can manage daily payments around banking holidays. Payments can be adjusted to skip the holiday or collect on the next business day, supporting diverse lender practices.
Approval Gross Margin Calculation
A new Approval Gross Margin field provides automatic calculations of lender profitability after deducting referral source commissions, offering better financial insights for decision-making.
Field History Tracking for Financial Data
Changes to bank accounts and ACH items are now tracked by default, ensuring transparency, auditability, and compliance.
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Bug Fixes: Smoother Operations, Every Time
We’ve tackled a range of system bugs to ensure your experience remains seamless and reliable:
Origination
- Resolved incorrect use of the “Delete Bank Accounts with Accounting Detail” setting during updates.
Servicing
- Fixed skipped post-holiday payments for weekly and monthly deals.
- Resolved issues with ACH Items not updating amounts when transactions, invoices, or remittances were added or removed.
- Corrected ACH Batch Summary data to update properly when ACH items are removed or adjusted.
- Addressed ACH item and batch disassociation when banks are marked with an ACH Return Pause.
- Ensured Running Balance updates correctly upon ACH Processor responses.
- Resolved issues with Debits Pending not including sent transactions, leading to incorrect balances.
- Fixed Agreement Repayment Balance calculations to account for refinances and allocated fees.
Syndication
- Prevented addition of due payables to remittances already sent to the ACH processor.
- Fixed errors with selecting Payable Aging Dates different from transaction dates.
For a complete breakdown of these updates, visit our release notes.
Why Cloudsquare Lend is the Best Loan Management Software
These updates reinforce our commitment to delivering the most robust, flexible, and scalable loan management software available. With features designed to enhance efficiency and security, and a dedicated focus on addressing customer feedback, Cloudsquare Lend continues to stand out as a trusted solution for lenders of all sizes.
Top Reasons Lenders Choose Cloudsquare Lend:
- Customization at Scale: Over 250 configurable settings allow you to tailor the platform to your exact needs.
- Automation for Efficiency: From ACH processing to real-time borrower insights, our automated workflows reduce manual tasks and errors.
- Transparency and Security: Enhanced tracking and proactive alerts ensure data integrity and compliance.
For more ways to streamline your loan servicing processes, check out our blog post on How to Streamline Loan Servicing with Automation.
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Take Your Lending Operations to the Next Level
Whether you’re looking to upgrade your current system or exploring the best loan management software on the market, Cloudsquare Lend offers the features, reliability, and support you need. Experience the platform trusted by industry leaders for seamless lending operations.
